Minutes from the Fed's September meeting suggest an additional hike in the benchmark interest rate this year

International

Minutes from the Federal Reserve's (Fed) latest monetary policy meeting revealed that a majority of committee members project an additional interest rate hike this year to curb inflation, which remains above the central bank's target. Furthermore, they reaffirmed that every decision will be based on macroeconomic data and its implications for the outlook and the balance of risks.

Against this backdrop, major U.S. stock indices posted broad-based declines during yesterday's trading session, bucking the trend seen in recent days. The Dow Jones fell 0.7%, while the S&P 500 and the Nasdaq each dropped 0.2%. Despite this, year-to-date gains stand at 6.5%, 13.9%, and 18.5%, respectively.

Meanwhile, U.S. Treasury yields showed mixed results across maturities yesterday. The 1-year bond yield settled at 4.41% (down from 4.44%), the 3-year bond ended at 4.91% (down from 4.92%), and the 10-year bond remained at 5.28%.

Minutes from the Federal Reserve's (Fed) latest monetary policy meeting revealed that a majority of committee members project an additional interest rate hike this year to curb inflation, which remains above the central bank's target. Furthermore, they reaffirmed that every decision will be based on macroeconomic data and its implications for the outlook and the balance of risks.

Against this backdrop, major U.S. stock indices posted broad-based declines during yesterday's trading session, bucking the trend seen in recent days. The Dow Jones fell 0.7%, while the S&P 500 and the Nasdaq each dropped 0.2%. Despite this, year-to-date gains stand at 6.5%, 13.9%, and 18.5%, respectively.

Meanwhile, U.S. Treasury yields showed mixed results across maturities yesterday. The 1-year bond yield settled at 4.41% (down from 4.44%), the 3-year bond ended at 4.91% (down from 4.92%), and the 10-year bond remained at 5.28%.

Source: PUENTE